Crypto enthusiast Mason Versluis has questioned why the XRP Ledger generates considerably less network activity than Solana, using daily transaction fees, application revenue, active addresses, and decentralized exchange volume to support his assessment.
Although his comparison paints a difficult picture for XRP’s current ecosystem activity, Versluis insists that he has not lost confidence in the cryptocurrency.
After holding XRP for seven years, he still believes the asset serves a purpose that differs from Solana’s focus on decentralized applications and retail participation.
In a recent video, Versluis described XRP as technically a dead chain compared to Solana. He then presented figures from both networks to explain his position.
$XRP = DEAD CHAIN?! ⛓️💥🪦
Warning: This one is for objective high IQ’s only! 🚨 pic.twitter.com/pEtuoNkccE
— MASON VERSLUIS (@MasonVersluis) November 4, 2026
XRP And Solana Network Activity Compared
Versluis began his comparison with the XRP Ledger’s performance over a 24-hour period. According to the figures he presented, the network generated approximately $1,300 in chain fees, while applications built on the network produced around $2,000 in revenue.
He also reported fewer than 60,000 active addresses and approximately $6 million in decentralized exchange volume.
Solana recorded considerably higher figures across the same metrics. Versluis cited approximately $584,000 in chain revenue and $500,000 in chain fees. He also reported that applications operating on Solana generated around $4 million in revenue, while application fees reached approximately $10 million.
The difference in active addresses also stood out in his comparison. Solana recorded approximately 2.4 million active addresses, significantly exceeding the figure he presented for XRP.
Versluis used these numbers to argue that Solana currently attracts substantially more activity than the XRP Ledger.
Solana Has Attracted More Developers, Versluis Says
Versluis attributed Solana’s performance to its success in attracting developers, entrepreneurs, and businesses that build applications for the network.
He specifically mentioned Phantom as an example of a major cryptocurrency application that operates within Solana’s ecosystem. He believes Solana has successfully attracted talented application developers and created an ecosystem where several projects generate considerable activity and revenue.
According to Versluis, XRP has not achieved comparable success in attracting developers and building applications. He believes this difference explains much of the gap between the two networks’ daily activity figures.
However, he clarified that his criticism does not mean he intends to sell his XRP holdings.
Why Versluis Remains Bullish On XRP
Versluis revealed that he has held XRP for seven years and intends to maintain his position. He explained that he does not believe retail participation represents the primary purpose of XRP.
Instead, he sees XRP as a banking-focused cryptocurrency designed to serve a different function from networks such as Solana.
Several commenters challenged his assessment. Panthro_650 referenced Franklin Templeton, SBI Japan, Rakuten, Bitwise, and the Bank for International Settlements, questioning how Versluis could describe the XRP Ledger as dead despite institutional interest and research involving the network.
Another commenter, RonBrungSun, raised a question about the network’s adoption, asking, “Have we seen full utility yet?”
That question touches on an important distinction in the debate. Current network activity measures what users and applications generate today, while institutional adoption and financial infrastructure represent different aspects of a blockchain’s potential use.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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